Indonesian trade balance surplus trend is expected to continue

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TEMPO.CO, Jakarta The government predicts that the last trade balance will see the excess trend continue over the next few months.

Iskandar Simorangkir, deputy in the ministry for the coordination of economic affairs, responsible for macroeconomics and finance, said the surplus is due to increased exports as the global economy recovers from the effects of the pandemic of Covid-19.

Iskandar Simorangkir also said that export growth will also be driven by rising world prices outside of global demands. He also believes that imports will experience growth, especially imports of raw materials, as they are necessary to meet the needs of export-oriented factories and domestic needs.

“But in general, exports will be more important than imports, which will make the trade balance in surplus,” said the deputy of Bisnis.com April 11.

A Bloomberg consensus on Indonesia’s trade balance in March 2021 projects an average surplus of US $ 1.5 billion with the highest estimate expected at US $ 1.92 billion and US $ 1.03 as of lower.

Statistics Indonesia (BPS) also recorded a trade balance surplus of US $ 2 billion in February this year, which was boosted by exports exceeding imports.

Read: Economists forecast a surplus for Indonesia’s trade balance in February

BISNIS


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